Iceland: Parliament approves Tax Bill for 2012

Further to our TaxFlash T11076, dated 14 November 2011, and effective

1 January 2012

the Icelandic Parliament (“Althingi”) has approved the proposed Tax Bill for 2012 that, among other measures, will reduce the tax rate on dividend, interest and capital gains income for beneficial owners as indicated:

• For foreign individuals: from 20% to 10%;
  
• For foreign legal entities: from 18% to 10%.

We will continue to monitor the situation for any new developments and will provide more information as it becomes available.

Further information

For further information, please contact the Clearstream Banking¹ Tax Help Desk on:

or Clearstream Banking Customer Service or your Relationship Officer.

1. Clearstream Banking refers to Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).